Brazil’s iron ore rebound disappoints

Wednesday 2 October 2019

Brazil has released its iron ore exports for September and they are still running far below potential at 27.1mt:

After the July bounce we’ve had two very weak months, weaker than even Vale has confessed. I’m not sure why but it is obvious support for iron ore in the near term.

That said, more is coming, via Reuters:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.